Wall Street brokerages expect that Analog Devices (NASDAQ:ADI) will announce sales of $1.47 billion for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Analog Devices’ earnings, with estimates ranging from $1.47 billion to $1.49 billion. Analog Devices reported sales of $1.15 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 27.8%. The business is expected to announce its next earnings results on Wednesday, May 30th.
On average, analysts expect that Analog Devices will report full-year sales of $6.02 billion for the current financial year, with estimates ranging from $5.92 billion to $6.19 billion. For the next financial year, analysts forecast that the company will report sales of $6.29 billion per share, with estimates ranging from $5.96 billion to $6.65 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.13. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. Analog Devices’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS.
Several analysts have commented on the stock. Piper Jaffray upgraded shares of Analog Devices from a “neutral” rating to an “overweight” rating and set a $92.00 price target on the stock in a research note on Tuesday, February 13th. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Nomura boosted their price target on shares of Analog Devices from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, March 1st. B. Riley reiterated a “buy” rating and issued a $122.00 price target (up previously from $113.00) on shares of Analog Devices in a research note on Wednesday, February 28th. Finally, BMO Capital Markets boosted their price target on shares of Analog Devices from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, March 1st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $101.21.
In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $91.25, for a total transaction of $912,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Eileen Wynne sold 5,209 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $94.86, for a total transaction of $494,125.74. Following the transaction, the chief accounting officer now owns 3,895 shares in the company, valued at $369,479.70. The disclosure for this sale can be found here. Insiders have sold a total of 62,511 shares of company stock worth $5,680,276 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently modified their holdings of ADI. Neville Rodie & Shaw Inc. bought a new position in Analog Devices in the 4th quarter worth about $827,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Analog Devices in the 4th quarter worth about $694,000. Abner Herrman & Brock LLC bought a new position in Analog Devices in the 4th quarter worth about $4,873,000. Copper Rock Capital Partners LLC grew its stake in Analog Devices by 47.6% in the 4th quarter. Copper Rock Capital Partners LLC now owns 110,625 shares of the semiconductor company’s stock worth $9,888,000 after acquiring an additional 35,687 shares in the last quarter. Finally, New England Research & Management Inc. grew its stake in Analog Devices by 38.4% in the 4th quarter. New England Research & Management Inc. now owns 21,892 shares of the semiconductor company’s stock worth $1,949,000 after acquiring an additional 6,075 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.
Analog Devices stock traded down $0.52 during mid-day trading on Tuesday, hitting $89.33. The stock had a trading volume of 2,302,913 shares, compared to its average volume of 2,980,336. The company has a market capitalization of $34,972.32, a P/E ratio of 18.86, a P/E/G ratio of 1.40 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.76. Analog Devices has a one year low of $74.65 and a one year high of $98.38.
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About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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